Privatization is the incidence of process of transferring ownership of business

Privatization is the incidence of process of transferring ownership of business www.phwiki.com

Privatization is the incidence of process of transferring ownership of business

Mansukhani, Anjali, Contributing Editor has reference to this Academic Journal, PHwiki organized this Journal Privatization is the incidence of process of transferring ownership of business from the public sector to the private sector. Share issue privatization(SIP)- selling shares on the stock market. Asset sale privatization –selling the entire firm or parts of it to a strategic investor. Voucher privatization- shares of ownership are distributed to all citizens, usually as long as free or at a low price.

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Wealthiest man in the world Net worth= $67.9 billion USD (2007) Born January 28, 1940 Father from Lebanon Studied engineering at University Nacional Autonoma de Mexico Married Soumaya Domit n 1967 in addition to had 6 children. Wife died of Kidney ailment in 1999 August 8, 2007 featured in Fortune magazine. Surpassed Bill Gates who’s Net worth was $58 billion USD. 1965 with the bottling plant Jarritos del Sur but increased in 1970 when his assests became apart of Grupo Galas, now known as Grupo Carso. During 1980’s more than 30 companys joined the group Most successful transaction was Cigatam in addition to the Sanborns chain

Carlos Slim is now the richest man in the world, thanks to his investments in telecommunications, financial services, in addition to varies industries. Here is a breakdown of his major holdings. % of shares held Investment value America Movil (wireless) 30% $31 billion Carso Global Telecom 82% $12.9 billion Grupo Carso 75% $ 7.1 billion Inbursa (financial serv) 67% $5.6 billion Ideal (infrastructure) 30% $1.7 billion Saks Inc. (U.S retail) 10% $263 million Total: $58.5 billion VP of Mexican Stock Exchange President of Mexican Association of Brokerage Houses 1st president of Latin American Committee of New York Stock Exchange Served in BOD as long as SBC Communication Majority share holder of CompUSA in addition to brought 3% of Apple Computer stock Built Mexican financial-industrial empire (Grupo Carso) Chairman of Telefonos de Mexico, America Movil Awarded Entrpreneurial Merit Medal of Honor from Mexicos Chamber of Commerce. Gold patron of the American Academy of Achievement

Slim leads the Latin America Development Fund project in addition to have a budget of 10 billion as long as 2008 growth Bill Clinton stated “Carlos Slim is the most important philanthropist in the world in addition to most people have never heard of him”. Slim gain accomplishments when he led investors such as France Telecom in addition to Southwestern Bell Corp into buying Telmex in addition to Telnor from the Mexican government in 1990. Today 90% of telephone line are operated by Telmex which is owned by Carlos Slim. Slim also owns Telcel which operates 80% of all its countries cell phones. Slims wireless carrier America Movil has brought companies all across Latin America in addition to is now the regions dominant company, with more than100 million subscribers. Slim owned 13% of MCI in addition to sold his stake to Verizon of the US on April 11, 2005.

According to some articles Carlos Slim privatization is not good as long as Mexico. Why: Employment =only provides employment as long as a quarter of a million Mexican workers ( Wal-mart employees $1.7 millions Mexican in Mexico) Poverty= have of the country lives under poverty lines, where the per capital income is under $6.800 dollars. While Slim has $63 billion Border patrol=Immigration policy

Slim’s as long as tune was built in a country in which 62% of the companies admit they set aside some of their income to pay bribes to government employees in order to obtain some benefit, in addition to 30%of all public resources allocated to Government contracts are set aside as long as corruption. Furthermore, his as long as tune increased with the purchase of a state-owned company. During the 90’s, there were many privatization of State monopolies in Latin America, especially those with regard to electricity, petroleum, telecommunications in addition to transport. The aim was to promote these companies’ productivity in addition to efficiency, in addition to to make them work as long as the “protection” of the citizens, in addition to not to depend on Government subsidies in addition to promote corruption in addition to the distribution of privileges. But in some cases, the only thing achieved was the transfer of public monopolies to private h in addition to s, often with the subsequent sale of public assets to the highest bidder in addition to to the friends of the Presidential Palace. Mexico – 5,414 2007 est

GDP (PPP) 2006 estimate – Total $1.149 trillion (12th) – Per capita $11,249 (63rd) GDP (nominal) 2006 estimate – Total $840.012 billion (short scale) (14th) – Per capita $8,066 (55th) http://www.mex.gov/assets/GDP/current account http://en.wikipedia.org/wiki/carlosslim http://english.martinvarsavsky.net/general/carlos-slim-is-the-richest-man-in-the-world-should-mexicans-be proud.html/trackback http://en.wikipedia.org/wiki/Mexico http://www.indexmundi.com/mexico/unemployment-rate.html Q & A

Mansukhani, Anjali Indulge Magazine Contributing Editor www.phwiki.com

Mansukhani, Anjali Contributing Editor

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